Litt Economics
Litt Economics
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Labor Economics - Optimal Number of Workers and Profit Calculations
Here, we calculate the optimal number of workers by setting the Value of Marginal Product (VMPE) - which we calculate - equal to the wage. We then calculate the total output of the firm and their profits.
Borjas - Labor Economics, Chapter 3
Переглядів: 307

Відео

Labor Market Equilibrium and Minimum Wage Calculations
Переглядів 132Рік тому
This video calculates an equilibrium wage given labor supply and demand functions, and then calculates the lost jobs and unemployment when a minimum wage is put into effect.
Calculating Labor Demand Elasticities
Переглядів 115Рік тому
Borjas - Labor Economics, Chapter 3
Optimal Labor Leisure Choice
Переглядів 378Рік тому
This video covers the graphing of a budget line, calculating the Marginal Rate of Substitution (MRS), the reservation wage, and the optimal bundle of consumption and leisure. Borjas - Labor Economics, Chapter 2
Reservation Wage Calculation
Переглядів 795Рік тому
Calculating the reservation in the model of labor-leisure choice. Reservation wage is equal to the Marginal Rate of Substitution (MRS) when hours worked, h, equals zero. Borjas - Labor Economics - Chapter 2
Kinked Budget Line - Labor Leisure Model Example
Переглядів 202Рік тому
How does overtime impact the budget line in the labor economics model of labor-leisure choice? Borjas - Chapter 2, Labor Supply
Work Incentives from Welfare Programs
Переглядів 133Рік тому
Labor Supply Example Problems 1. Cash Grant Welfare Program 2. Cash Grant with Tax on Labor Earnings Borjas - Labor Economics, Chapter 2
Make Beautiful Regression Output Tables in Excel
Переглядів 1,9 тис.3 роки тому
This video shows how you can manually create nice tables from regression output - in this case, I use Pyhon summary regression data.
Categorical Dependent Variables 03: Logit and Probit Models
Переглядів 4443 роки тому
This video explains the basics of Logit Models and provides a brief overview of Probit and Multinomial Logit and Probit models.
Categorical Dependent Variables 02: Linear Dependent Models - Problems
Переглядів 2543 роки тому
This video describes problems - particularly the Unboundedness Problem - associate with LPM, and sets us up for the last video in this set of categorical dependent variables videos on Logit Models.
Categorical Dependent Variables 01: Linear Dependent Models
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Categorical Dependent Variables 01: Linear Dependent Models
Nonlinear Functional Form 03: Log-Log Regression
Переглядів 1543 роки тому
This video discusses log-log OLS regression, where both the dependent variable and independent variable are logged. This will allow us to interpret the results as constant elasticity. We finish by summarizing, level-level, log-level, log-log, and quadratic OLS forms and marginal effect interpretations.
Nonlinear Functional Form 01: Quadratic (Squared Terms) in OLS
Переглядів 3103 роки тому
This video discusses why we might want to use a squared term in an linear regression, explains how we incorporate it into the model, and shows how we can interpret the marginal effects of x on y, when both x and x squared terms are included.
Nonlinear Functional Form 02: Log-Level Regression
Переглядів 1673 роки тому
This video discusses why we might want to log the dependent variable of a regression equation. This is particularly useful if we think the model exhibits increasing returns - to scale or education or otherwise. We discuss how to incorporate a logged term into the model and how we interpret the regression results.
Converting Measurement Units in Linear Regression
Переглядів 2 тис.3 роки тому
This video describes how changing the units for dependent and independent variables impacts the estimated regression coefficients in the outcome of linear regression models. For example, what happens if you measure salary in dollars versus thousands of dollars? Or what happens if you measure percentages as a whole number or as a decimal?
Valuing the Environment 05: Hedonic Pricing Example
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Valuing the Environment 05: Hedonic Pricing Example
Valuing the Environment 04: Revealed Preference Hedonic Pricing - Theory
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Valuing the Environment 04: Revealed Preference Hedonic Pricing - Theory
Valuing the Environment 03: Revealed Preference Travel Cost Method
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Valuing the Environment 03: Revealed Preference Travel Cost Method
Valuing the Environment 02: Valuation Methods and Stated Preference
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Valuing the Environment 02: Valuation Methods and Stated Preference
Valuing the Environment 01: Sources of Economic Value
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Valuing the Environment 01: Sources of Economic Value
Monetary System 04: Open Market Operations and Inverted Yield Curves
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Monetary System 04: Open Market Operations and Inverted Yield Curves
Monetary System 03: Banks Create *New* Money!
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Monetary System 03: Banks Create *New* Money!
Monetary System 05: Quantitative Easing
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Monetary System 05: Quantitative Easing
Monetary System 02: The Federal Reserve System
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Monetary System 02: The Federal Reserve System
Monetary System 01: What is Money?
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Monetary System 01: What is Money?
Public Goods and Common Resources 02: Free Riders, Tragedy of the Commons, and Policy
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Public Goods and Common Resources 02: Free Riders, Tragedy of the Commons, and Policy
Public Goods and Common Resources 01: Introduction
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Public Goods and Common Resources 01: Introduction
Excel to Python 08: OLS in Excel and Python
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Excel to Python 08: OLS in Excel and Python
Excel to Python 10: Visualizing OLS and making Beautiful Graphs in Excel
Переглядів 1003 роки тому
Excel to Python 10: Visualizing OLS and making Beautiful Graphs in Excel
Excel to Python 09: Visualizing OLS in Python
Переглядів 763 роки тому
Excel to Python 09: Visualizing OLS in Python